The following transactions occur in the purchase and issue of a material: 2 Jan. Purchased 4,000 units @ Rs. 4.00 per un
Posted: Sun Jun 05, 2022 9:20 pm
The following transactions occur in the purchase and issue of a
material:
2 Jan.
Purchased
4,000 units @ Rs. 4.00 per unit
20 Jan.
Purchased
500 units @Rs. 5.00 per unit
5 Feb.
Issued
2,000 units
10 Feb.
Purchased
6,000 units@ Rs. 6.00 per unit
12Feb. Issued
4,000 units
2 March
Issued
1,000 units
5 March
Issued
2,000 units
15 March
Purchased
4,500 units
20 March
Issued
3,000 units
@Rs. 5.50 per unit
From the above, prepare the Stores Ledger Account by using LIFO
method
material:
2 Jan.
Purchased
4,000 units @ Rs. 4.00 per unit
20 Jan.
Purchased
500 units @Rs. 5.00 per unit
5 Feb.
Issued
2,000 units
10 Feb.
Purchased
6,000 units@ Rs. 6.00 per unit
12Feb. Issued
4,000 units
2 March
Issued
1,000 units
5 March
Issued
2,000 units
15 March
Purchased
4,500 units
20 March
Issued
3,000 units
@Rs. 5.50 per unit
From the above, prepare the Stores Ledger Account by using LIFO
method